Austbrokers profit climbs 14%
02 March 2009
The buoyant broker market was well illustrated last week when Austbrokers announced a $6.7 million half-year net profit – up 14% thanks to organic growth and the contribution of new acquisitions...
Corporate
Calliden profit up by 600%
02 March 2009
Calliden Group is flexing new muscles with a 600% boost in net profit for 2008, strong growth in gross written premium and a mission to take on the big boys...
Tough times prompt conservative measures at IAG
23 February 2009
The word “sensible” set the tone for a media briefing by IAG CEO Michael Wilkins about the group’s first-half performance forecast and capital-raising...
Assetinsure replaces Babcock & Brown’s 50%
23 February 2009
Commercial insurance underwriter Assetinsure has severed ties with troubled investment firm Babcock & Brown which has sold its 50% stake in the insurer...
Top Suncorp man jumps ship to join Lumley
23 February 2009
Suncorp’s EGM Corporate Portfolio, Commercial Insurance John Nagle will join Lumley as COO Intermediary Partners, starting in May...
Elders’ insurance profits slump
23 February 2009
Low interest rates and natural disasters have affected the results of Elders Insurance...
Senior staff quit Lumley Marine
16 February 2009
Lumley Marine & Logistics has lost two of its most senior marine insurance managers with the resignation of Robert Hammersley and Neil Hiller...
GAB Robins name set to vanish in local market
16 February 2009
Leading loss adjuster GAB Robins Australia will be absorbed into the global Cunningham Lindsey group as part of a buy-up of GAB Robins businesses outside the US...
Revenue up, profitability down at Wesfarmers Insurance
16 February 2009
Improved revenues from the Wesfarmers Insurance division have contributed to a 46% increase in parent company half-year net profit of $879 million...
Premium funding jobs safe amid GE corporate shake-up
16 February 2009
GE Capital has confirmed that no Pacific Premium Funding employee will lose their job as the company completes a divisional merger...
Suncorp continues raising capital
16 February 2009
Suncorp intends to put more capital into its reserves with a $502 million 1-for-5 rights issue announced on Friday...
The $900 million capital raising Suncorp ‘had to have’
09 February 2009
Analysts are viewing Suncorp’s $900 million capital raising as a necessary exercise, even if the circumstances which prompted it are far from ideal...
AMP slashes 300 jobs
09 February 2009
Financial services conglomerate AMP cut a total of 300 jobs in the last quarter of 2008 and isn’t ruling out more redundancies...
Willis employees asked to shape up
09 February 2009
Willis Australasia has confirmed staff will be ranked according to performance measures recently outlined by Global Chairman Joe Plumeri – with poor performers likely to get the boot...
O’Halloran edges closer to fame status
09 February 2009
QBE CEO Frank O’Halloran has been nominated for the International Insurance Society’s (IIS) 2009 Insurance Hall of Fame Awards...
Premium funding staff under cloud as GE sharpens axe
09 February 2009
GE Australia and NZ says it is too early to say if Pacific Premium Funding staff will be among 400 casualties of a major divisional merger...
Sportscover granted Lloyd’s managing agency
02 February 2009
Melbourne-based sports underwriting agency Sportscover has set up a managing agency in the Lloyd’s market, following approval by the UK regulator...
HIH creditors’ payment increased
02 February 2009
Nearly eight years after the collapse of insurer HIH, its insurance creditors have received an increase of 6% in the scheme payment percentage...
Analysts lower QBE’s earnings estimates
02 February 2009
Analysts have lowered their earnings estimates for QBE Insurance as the company prepares to post its 2008 results later this month...
ANZIIF bounces back with Indonesia venture
02 February 2009
The Australian and New Zealand Institute of Insurance and Finance has announced an education partnership with Indonesian insurance and risk management training institution...